The Kentucky Public Service Commission has granted East Kentucky Power Cooperative a $43 million rate increase.

The PSC on Jan. 14 approved both a settlement and the resulting pass-through rates to be charged by the 16 electric distribution cooperatives that own and purchase power from EKPC. The new rate hikes take effect immediately and includes Grant County customers of Owen Electric Coop.

“As a not-for-profit cooperative, Owen Electric must pass along this increased cost from our power supplier to retail members,” said Whitney Duvall, spokesperson for Owen Electric. “The increase is going to add about $4.28 to the average monthly bills of our residential members.”

The PSC conducted a public hearing on the case in December prior to announcing the rate increase.

“We can help members to improve the energy efficiency of their homes or businesses,” said Duvall. “We provide energy analyses, along with our Button-UP and other energy saving programs. We can help people pinpoint the areas where they can save.”

Most homes have places where outside air leaks into the living areas, driving up montly bills. In addition, older homes typically do not have proper insulation in attics and crawl spaces.

EKPC’s 16-member distribution cooperatives have more than 500,000 customers in 87 counties in eastern and central Kentucky. EKPC generates electricity at four plants and operates 2,755 miles of high-voltage transmission lines. Owen Electric offers Simple Savings energy information bulletins and videos. For more information go to www.owenelectric.com.